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13/10/2010
Liverpool Owners Lose Case
In a High Court decision, that brings the club closer to being sold to the owners of the Boston Red Sox, Mr Justice Floyd has ruled against Liverpool Football Club owners.
Tom Hicks and George Gillett now have no power to stop their boardroom rivals, who sanctioned the sale last week.
The sale of the debt-ridden club was agreed last week in a £300m deal with New England Sports Ventures (NESV).
However the current owners argued the price undervalues the Premier League club.
The decision means the sale to NESV can proceed, although Club Chairman Martin Broughton hinted rival bids may now be considered at a meeting on Wednesday.
Leaving the Courts of Justice in London, Broughton commented: "I am absolutely elated, it's a very important day for our club.
"This will clear the way for the sale, we will have a board meeting this evening and proceed with the sale.
"It has been an anxious time but we have been confident. But when you go to court you can never be sure."
Discussing the sale to NESV, Broughton added: "The board has to be reconstituted and I can't prejudge what the board is going to say. It would be inappropriate to prejudge what the board may say.
"But the club's going to have a great future. We will re-establish the right basis for the club.
"The acquisition debt that has been plaguing us will be gone, we have a great future. We will get the right owners for the fans."
NESV issued a statement over the High Court decision saying: "NESV welcomes today's High Court judgment, which is a huge step forward for Liverpool FC.
"NESV has a binding agreement in place with the Board of Liverpool FC and we are looking forward to concluding the deal.
"We are ready to move quickly and help create the stability and certainty which the club needs at this time. It is time to return the focus to the club itself and performances on the pitch."
(BMcN/GK)
Tom Hicks and George Gillett now have no power to stop their boardroom rivals, who sanctioned the sale last week.
The sale of the debt-ridden club was agreed last week in a £300m deal with New England Sports Ventures (NESV).
However the current owners argued the price undervalues the Premier League club.
The decision means the sale to NESV can proceed, although Club Chairman Martin Broughton hinted rival bids may now be considered at a meeting on Wednesday.
Leaving the Courts of Justice in London, Broughton commented: "I am absolutely elated, it's a very important day for our club.
"This will clear the way for the sale, we will have a board meeting this evening and proceed with the sale.
"It has been an anxious time but we have been confident. But when you go to court you can never be sure."
Discussing the sale to NESV, Broughton added: "The board has to be reconstituted and I can't prejudge what the board is going to say. It would be inappropriate to prejudge what the board may say.
"But the club's going to have a great future. We will re-establish the right basis for the club.
"The acquisition debt that has been plaguing us will be gone, we have a great future. We will get the right owners for the fans."
NESV issued a statement over the High Court decision saying: "NESV welcomes today's High Court judgment, which is a huge step forward for Liverpool FC.
"NESV has a binding agreement in place with the Board of Liverpool FC and we are looking forward to concluding the deal.
"We are ready to move quickly and help create the stability and certainty which the club needs at this time. It is time to return the focus to the club itself and performances on the pitch."
(BMcN/GK)
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